Former Union Minister Rajeev Chandrasekhar criticized the Kerala government on Tuesday for borrowing over Rs 4,000 crore to cover Onam expenses. He pointed out that Onam, a festival symbolizing honesty and human connection, should not be used as an excuse for financial mismanagement. Chandrasekhar condemned the Kerala government for advancing loans meant for the final quarter of the fiscal year to pay for festival bonuses and allowances, despite the state’s ongoing financial crisis.
Chandrasekhar emphasized that this borrowing, approximately Rs 4,800 crore, will further strain the state’s already fragile economy, which he attributed to the financial mismanagement of successive governments. He argued that if the Kerala government had curbed unnecessary extravagance and wasteful spending, the state would not need to take on loans to cover employee benefits.
The BJP leader highlighted that Kerala has a borrowing cap of Rs 37,512 crore, with Rs 21,253 crore already used up, leaving only Rs 700 crore for future expenses. In light of this, the government is borrowing Rs 4,800 crore from funds set aside for crucial expenditures in the final quarter, exacerbating the state’s financial problems.
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